Inozyme Pharma (NASDAQ:INZY) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Inozyme Pharma (NASDAQ:INZY) released its earnings results on Tuesday. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07), Zacks reports.

Inozyme Pharma Stock Performance

NASDAQ INZY traded down $0.37 on Wednesday, hitting $4.34. 153,643 shares of the stock traded hands, compared to its average volume of 484,528. Inozyme Pharma has a 12 month low of $2.69 and a 12 month high of $7.80. The business’s fifty day moving average is $4.92 and its two-hundred day moving average is $5.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 14.05 and a current ratio of 14.05. The firm has a market capitalization of $268.46 million, a price-to-earnings ratio of -3.23 and a beta of 1.52.

Analyst Ratings Changes

Several research firms have recently issued reports on INZY. Wells Fargo & Company began coverage on Inozyme Pharma in a report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 target price for the company. Bank of America reduced their target price on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Inozyme Pharma in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $16.00.

Inozyme Pharma Company Profile

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.